EXCO Resources Pumps Dividend Higher
EXCO Resources has declared a dividend for its first quarter. The company will hand out $0.05 per share on March 29 to shareholders of record as of March 15. That represents a 25% increase over the previous payout of $0.04, which had been distributed in each quarter since August 2010. Prior to that, the dividend was $0.03 per share.
The increase comes in spite of the firm's recently announced Q4 and full-year results, both of which saw declines in revenue and bottom line. The quarter's net loss deepened to $269 million ($1.25 per diluted share) from Q4 2011's $167 million ($0.78), while 2012's annual shortfall was $1.4 billion ($6.50) against a profit of $23 million ($0.10) the previous year.
The new dividend annualizes to $0.20 per share. That yields 3.1% at EXCO Resources' current stock price of $6.51.
The article EXCO Resources Pumps Dividend Higher originally appeared on Fool.com.Fool contributor Eric Volkman has no position in EXCO Resources, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.